Survey finds biopharma companies lag in digital transformation

It is time for a sea change in strategy

The Report

Survey finds biopharma companies lag in digital transformation: It is time for a sea change in strategy is released by Deloitte Global. The life sciences industry's commitment to digital transformation is increasing, but few organizations are digitally maturing. This report illustrates how companies can take an enterprisewide approach to digital transformation.

Viewpoints / key findings

As is true for most industries, digital transformation is no longer a buzzword, but a strategic imperative for life sciences companies. While first movers would likely gain a competitive advantage, all of today’s companies risk falling behind their competitors in delivering across all elements of the value chain if their strategies are limited to a few pilots and experiments.

Opportunities for digital transformation are available throughout life sciences organizations’ business, from business operations such as production and enabling functions to engagement with patients, physicians, health systems, and payers to developing new products and services. In this report, we explore three ways digital transformation can enhance life sciences organizations:

  • Efficient execution
    Digital can help companies execute better by improving performance and reducing costs through collaboration, centralization of digital technologies to streamline delivery, and enhanced capabilities across the organization or division.
  • Effective engagement
    Digital can help companies deliver a differentiated, engaging, digitally enabled impactful experience to key customers, the workforce, and ecosystem partners. Key elements include using digital platforms to engage patients and other stakeholders remotely, leveraging social and other community networks, and personalizing experiences with user data to deliver greater value.
  • Product and services innovation
    Digital transformation offers opportunities to envision and deploy products and services with new or enhanced value. Opportunities also exist to improve the return on research and development by shortening drug discovery or otherwise lowering research costs.
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